Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. (notice: date) telecon, inc., experienced the fol

(Notice: Date) Telecon, Inc., experienced the following transactions during May 2021. May 1 The...

80.2K

Verified Solution

Question

Accounting

image

(Notice: Date)

Telecon, Inc., experienced the following transactions during May 2021. May 1 The company issues ordinary shares in exchange for 25,000 cash. 2 Purchased 400 of supplies on credit. 2 Purchased equipment for 10,000, paying 3,000 in cash and signed a 30-day, 7,000, note payable. 4. Real estate commissions billed to clients amount to 4,000. 6 Paid 700 in cash for the current month's rent. 9 Paid 200 cash on account for supplies purchased on May 2. 11 Received a bill for 600 for advertising for the current month. 19 Paid 2,200 cash for salaries. 22 The company paid dividends of 1,200. 25 Received a check for 3,000 from a client in payment on account for commissions billed on a a May 4. Instructions Prepare the appropriate journal entries to record these transactions (omit explanations)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Basic Math
1.2K views

How many methods are there for solving quadratic equations? And which is a preferred method?

Chemistry
1.2K views

Write four paragraphs (at least a page) talking about LEAD. a. Define LEAD, the means of...

Psychology
1.2K views

Guess Who's Coming to Dinner was recognized as being a progressive film regarding race relations at the...

Geometry
1.2K views

C P 9 https united4sisd schoology com Name a radius Name a diameter R T...

Basic Math
1.2K views

Question 13 7 1 55 Use the vertical line test to determine whether the given...

Calculus
1.2K views

The graph of g is given below.Determine the intervals on which g is continuous. Enter...

Algebra
1.2K views

Question 9 Solve the absolute value equation or inequality a 112 6x 3 9 b...

Algebra
1.2K views

Solve. Round your answers to the nearest tenth if necessary.(5x-6)(3x + 1) = 0Smaller solution:Bigger...

Accounting
1.2K views

I'm stuck on question 3, , and 5 ...

Finance
1.2K views

What is the operating cash flow for 2009? Question 18 options: ...

Finance
1.2K views

Based on the following information for a common stock: Dividend per share just paid (D0)...

Finance
1.2K views

6. An investor buys l 00 shares of A TN at 3 8 and 7...